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AGL
ANAAL
AGL - Anglo American plc - Notification
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
Anglo American plc notification:
De Beers Societe Anonyme interim results 2011
Anglo American wishes to draw attention to the De Beers Societe Anonyme ("De
Beers") announcement of its results for the six months ended 30 June 2011. De
Beers reported Underlying earnings of US$666 million.
Anglo American plc ("Anglo American") arrives at its Underlying earnings in
respect of De Beers by accounting for the interests arising from the ordinary
shares it holds. Anglo American will therefore report underlying earnings of
US$299 million for the six months ended 30 June 2011 from its investment in De
Beers, as reconciled in the table below:
$m
De Beers Underlying earnings (100%) 666
Difference in IAS 19 accounting policy (1)
De Beers Underlying earnings - Anglo American plc basis (100%) 665
Anglo American plc`s 45% ordinary share interest 299
Contribution to Anglo American plc underlying earnings 299
In the six months ended 30 June 2011, Anglo American received US$22 million in
dividends from De Beers. In addition, $45 million of the outstanding shareholder
loans to De Beers were repaid during the period.
Anglo American will report results for the six months ended 30 June 2011 on
29 July 2011. The above figures are unaudited.
Underlying Earnings
Underlying Earnings is net profit attributable to equity shareholders, adjusted
to remove special items and remeasurements, and any related tax and non-
controlling interests. Special items are those items of financial performance
that the Group believes should be excluded from underlying financial
performance. Operating special items include impairment charges and reversals
and other exceptional items, including restructuring costs. Non-operating
special items include profits and losses on disposals of investments and
businesses as well as certain adjustments relating to business combinations.
Remeasurements include adjustments to ensure that the unrealised gains or losses
on non-hedge derivative instruments are recorded in underlying earnings in the
same period as the underlying transaction against which these instruments
provide an economic, but not formally designated, hedge as well as foreign
exchange impact arising in US dollar functional currency entities on deferred
tax balances.
26 July 2011
Sponsor: UBS South Africa (Pty) Ltd
Date: 26/07/2011 10:05:01 Produced by the JSE SENS Department.
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